Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Still waiting for you to grasp that Macy's owns the Union Square building and is trying to sell it.
Quote:
Originally Posted by JBtwinz
It is not because of crime, Macy’s like Sears owned some of its property it’s stores were on but leased many others. It is next to impossible to sell these commercial spaces and if Macy’s is hemorrhaging cash a corporate owned property that is underperforming due to changes in consumer shopping habits it has to be one of the first to go.
We have an abandoned mall with over 1.39 million square feet that they can’t figure out away to repurpose. So it sits empty except for a church and one or two other spots. This is happening all over America.
The real crime is these retailers didn’t see this coming over the years but Covid did push them over the edge.
You clearly don't understand what's been going on in Union Square....yet you claimed you were there last summer. Got any pictures?
It is not because of crime, Macy’s like Sears owned some of its property it’s stores were on but leased many others. It is next to impossible to sell these commercial spaces and if Macy’s is hemorrhaging cash a corporate owned property that is underperforming due to changes in consumer shopping habits it has to be one of the first to go.
We have an abandoned mall with over 1.39 million square feet that they can’t figure out away to repurpose. So it sits empty except for a church and one or two other spots. This is happening all over America.
The real crime is these retailers didn’t see this coming over the years but Covid did push them over the edge.
A very valuable property in one of the nation's most lucrative real estate markets at that. Considering the continued decline of department store shopping combined (which was further decimated in SF by WFH and staggering office vacancy rates), it's really a no brainer.
You clearly don't understand what's been going on in Union Square....yet you claimed you were there last summer. Got any pictures?
Actually we were there several times and felt perfectly safe. There is no reason for me to take pictures of a shopping district but I took pictures of the twins at landmarks such as the Golden Gate Bridge, Lombard Street and many others but no, not going to be taking pictures of stores. I am out in the Bay Area at least once a year but it was the twins first time.
I will say we did have to make sure we did not leave anything in our car as at Muir Beach Lookout, Muir Beach and even at a Chili’s where we dined at as they all had signs warning of them being smash and grab spots. These signs are new and guess thieves are targeting tourists by breaking into cars and stealing items.
I will also say the homeless situation in LA seemed much worse than in SF. Entire city streets in LA with homeless living in beaten up RV’s.
Actually we were there several times and felt perfectly safe. There is no reason for me to take pictures of a shopping district but I took pictures of the twins at landmarks such as the Golden Gate Bridge, Lombard Street and many others but no, not going to be taking pictures of stores. I am out in the Bay Area at least once a year but it was the twins first time.
I will also say the homeless situation in LA seemed much worse than in SF. Entire city streets in LA with homeless living in beaten up RV’s.
Yeah, I was there in October for work and stayed at a hotel about a block off of the square. It felt fine. The biggest difference in my eyes vs. several years ago is just the lack of pedestrians on the street in much of the city center. But that's par for the course when office vacancy rates are approaching 40% and even "occupied" offices have large percentages of remote and hybrid workers. And Union Square wasn't even that dead when compared to other parts of downtown. There are still tourists in the hotels, shoppers at the stores, people lining up for the cable cars, etc. It's certainly seen better days, but it's hardly the nightmarish hellscape that it's often made out to be.
I agree that the homeless situation in LA is far worse. RVs, every highway underpass seems to have a tent city, etc. SF has always had a homeless problem and it still very clearly/visibly does. But LA is definitely worse.
Still waiting for you to grasp that Macy's owns the Union Square building and is trying to sell it.
We all grasp that. No one disputed that. Because they are closing 150 stores. Because big brick and mortar stores are failing across the country, and because Macy's needs liquidity to fight a takeover.
But the store was not closed due to crime, it is still open and the building is for sale.
The San Francisco Macy's isn't closing due to shoplifters. That is not what is meant when stating crime is the reason for the store closing. The crime is on the streets....and that's why there are so few shoppers now.
And why are there so few shoppers in their other stores?
It takes three virtually amateur bloggers to write this article. Look under their experience which is linked to their names.
Now I am not refuting the article you posted but after the end of theirs the first link to another article is an article all about Macy’s financial downfall and its weakening position at the Union Square location.
I think we can both agree that both articles are 180 apart.
That’s the Mike Moritz narrative. He’s the billionaire behind the San Francisco Standard.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
